PRODUCT PLANNING

How to Master the Art of Product Planning?

A comprehensive guide to creating, a “ Step-by-Step Guide to Designing a Winning Product Plan”

Lehel Kakonyi

5 min readJan 3, 2023

A woman creating a product plan — Plans are useful, a well-designed plan helps you to manage risks and focuses on the outcomes.

Product & Leadership Playbook

Play 2/196 — Designing a Product Plan

Have you ever wondered, how others are creating product plans?

A great product plan should effectively address the needs and wants of the target market, while also taking into account the long-term viability of the product. It should be based on thorough market research and a clear understanding of the competitive landscape. The plan should also include a roadmap for development and launch, as well as a marketing and sales plan to promote and generate demand for the product. Overall, a great product plan is essential for bringing a successful product to market and achieving long-term success.

If you are new to Product Management or interested in how other Product Leaders create great plans, you might wonder how can you put the above into action…

Let's look at the baseline

“The product manager is the CEO of the product.” — Marty Cagan, Silicon Valley Product Group

This quote highlights the important role of the product manager in driving the success of a product. As the CEO of the product, the product manager is responsible for setting the vision and strategy for the product, as well as coordinating the efforts of the cross-functional team to bring the product to market.

Followed by the actions:

You are where you are based on past decisions: This statement means that the current situation or circumstances that a person finds themselves in are a result of the decisions made in the past. The implication is that the choices that a person makes have consequences, and that the present is largely shaped by the decisions that were made in the past. This can be a powerful motivator to make careful and thoughtful decisions in the present, as they will have an impact on the future. Look into key decisions, which led to where you are today, and evaluate what's worked well and what's not. Change what's broken and keep using what's been successful until now.
Computers are Machines, think like one: I encourage the reader to approach problem-solving just like a computer in a systematic and logical way, similar to how a machine would process information. Computers are not capable of complex or abstract thought, and they can only perform tasks based on the specific instructions that are given to them. Therefore, in order to effectively use a computer, it is important to understand its limitations and to approach problem-solving in a step-by-step, logical manner. Thus, you as a product leader have to break down complex problems into simple and digestible logical blocks, so-called Cause and Effect statements which help your team to come up with smart and measurable solutions.
All roads lead to Rome: This means that there are many different ways to achieve a goal or reach a destination. It suggests that there are multiple paths or approaches that can be taken, and that each one may lead to the same outcome. Your job? Go, and find the best way, the one on which your team believes they can bear the upcoming challenges.
Scripting lets you tell a story, not dry numbers: using scripts (or scripts for writing) allows you to convey a narrative or story, rather than just presenting a series of dry or boring facts and numbers. A script is a written document that outlines the dialog and action in a play, movie, or television show. In this context, using scripts to communicate information can make the content more engaging and interesting for the audience, by adding context and emotion to the information being presented. By contrast, presenting information as a series of dry numbers or statistics may not be as engaging or effective at conveying a message. Instead of communicating, we need proper A/B testing, think more of this: Within the next two weeks, I will appoint a responsible person who will organize and coordinate Product Market fit testing, to mitigate any risk in our development efforts.
Document and measure progress, sharing is caring: Documenting progress involves keeping records or creating a written record of progress or changes that have occurred. This can be helpful for identifying trends or patterns, and for evaluating the effectiveness of different strategies or approaches. Measuring progress involves using specific metrics or benchmarks to assess progress and identify areas of improvement. Sharing progress with others can involve sharing information with team members, stakeholders, or others who are interested in or impacted by the progress being made. Sharing progress can help to foster transparency and collaboration, and can facilitate the sharing of ideas and best practices.
Cut it in half, and iterate quickly: Designing something should be done before actually creating or building it. Designing involves creating a plan or blueprint for something, while “doing” refers to the actual implementation or execution of that plan. Completing the design phase first allows for careful planning and consideration of all the necessary details and requirements before proceeding with the actual creation or construction of the product or project. This can help to ensure that the final product meets the desired specifications and meets the needs of the intended users.

Reading similar content, personal recommendation — — —

Principles: Life and Work

Ray Dalio’s “Principles” is a self-help and business book that outlines the author’s personal and professional philosophies, including his approach to decision-making, management, and leadership. The book is based on Dalio’s experiences as the founder of Bridgewater Associates, a successful investment firm, and it aims to provide readers with practical guidance on how to achieve success in their own lives and careers. Dalio’s principles are centered on the idea of “radical truth and transparency,” and he advocates for open and honest communication, continuous learning and improvement, and the importance of setting clear goals and constantly working to achieve them. Overall, “Principles” is a highly influential and widely-read book that has received praise for its practical and actionable advice.

Link to buy the book: Principles: Life and Work

Hi, I’m Lehel. I became a product manager to fuel my curiosity in technology and business management by creating digital products. My journey allowed me to dive deep into product design, user experience, business administration, and learning multiple programming languages. I have been fortunate to lead programs for successful Startups and Fortune 500 companies whereas a leader, my focus is on establishing a great product culture to help people strive by following servant leadership and radical candor principles. In my free time, I write about product management & leadership topics to document the learnings of my past 15 years in the field.

It starts with:

You can find me at lehelkakonyi.com as well…